“ China’s exports to the United States plunged by 35 percent in May compared to a year earlier, according to Chinese customs data.

“China’s once bright spot is now in question,” Bass said. “I actually am surprised it’s not down more.”

China has also been hit hard by capital flight.

In 2024, Bass said, China experienced a massive outflow of both foreign direct investment (FDI) and portfolio investment totaling about $500 billion, pointing to the gap between its trade surplus of about $980 billion and its current account surplus of about $420 billion.

China is also facing unsustainable debts. When combining China’s sovereign debt and local government financing debt, Bass estimated that the country’s debt-to-GDP ratio should be roughly 350 percent, which he said is difficult to manage considering the various economic challenges.“ https://www.zerohedge.com/geopolitical/chinas-econ...

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